Ministers face industry blowback as DAA board readies Kenny Jacobs exit deal

"Agreement is understood to have been reached late on Tuesday between Kenny Jacobs and the board of DAA on terms of a departure from his role as CEO of the semi-state airport operator at a point that would be three years into a seven-year term. However, both the Transport Minister Darragh O'Brien and Public Expenditure Minister Jack Chambers will have to sign off on the deal, including a potentially politically charged €1.2m exit payment."

"It's understood Mr Jacobs will stay until at least the New Year, under that deal. However, airline chiefs are understood to be concerned that the exit would have major ramifications for Dublin Airport in particular, at a time of intense activity including efforts to pick its way through complex planning processes. There are understood to be limited internal options to replace the CEO and an external search could be lengthy and would be hurt by the nature of a highly public exit."

"Mr Jacobs has been in negotiations with the board for a number of weeks about his future after major disagreements at board level that led to a breakdown in communication. A DAA spokesperson declined to comment or to confirm the agreement. Mr Jacobs remains in place and is understood to be on the ground and continuing to work this week. There have been huge tensions both politically and in the aviation sector over the hugely controversial passenger cap that is restricting the growth of Dublin"

Agreement was reached for Kenny Jacobs to depart as CEO of the DAA three years into a seven-year term. Both the Transport Minister Darragh O'Brien and Public Expenditure Minister Jack Chambers must approve the deal, which may include a €1.2m exit payment. Mr Jacobs will remain until at least the New Year while transition arrangements are finalised. Airline executives worry the departure could significantly affect Dublin Airport amid complex planning processes and a controversial passenger cap restricting growth. Internal succession options are limited and an external CEO search could be prolonged and complicated by the public nature of the exit. Negotiations followed major board disagreements and a breakdown in communication.

Read at Irish Independent